There has been an acceleration in consumer behaviour shift to online shopping and increased need for omni-channel commerce. Major changes in consumer shopping habits – Increase in digital shopping, millennials and high-income earners are in the lead when it comes to shopping online, consumers are switching brands and channels at unprecedented rates –  all brought on by the pandemic and recent inflation. The beneficiaries of this shift include big, trusted brands and discounters, which are seeing unprecedented growth during the crisis, and private labels, which have outpaced the branded market. Some 80 percent of customers who started using a private brand during the pandemic indicate they intend to continue using it. Shoppers have cited a number of reasons for switching brands, with availability (in-store and online), and value leading the pack. Behaviours vary by consumer segment. As retailers contemplate the changes in consumer behavior, they will need to adjust their strategies and execution to adapt to the new norms. Further, it will be important for brands to reevaluate and reprioritize their target audience and consumer segments, as the emphasis on each of the next-normal trends will vary based on the target consumer.

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